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Debut sovereign green bond offer oversubscribed

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The Debt Management Office (DMO) has raised N10.791 billion in 5-year bonds, accepting over N700 million in over subscriptions.
The Debt office announced that the debut Sovereign Green Bond offered to the general public in December, 2017 was very well received by a wide range of investors. At the close of the Offer, the Total Subscription received was N10.791 billion compared to the N10.69 billion Offered. Among the investors who subscribed to the Green Bond were banks, pension funds, asset managers and retail investors. The DMO had offered N10.69 billion Sovereign Green Bond for a Tenor of 5 years and Coupon of 13.48%.
The Green Bond rated ‘Excellent’ by Moody’s, was issued as part of the Federal Government’s New Domestic Borrowing in the 2017 Appropriation Act to finance three (3) Projects. The Projects are Energising Education Programme, Renewable Energy Micro Utilities and Afforestation Programme.
According to a statement, “The DMO is pleased with the strong interest shown by Investors, and added that it shows investors interest in new products and support for the objective behind the issuance of Bond which is to invest in projects that will contribute to preserving the environment. It also shows support for the Paris Agreement on the Climate, which Nigeria has endorsed. “
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Written by Per Second News

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